Spiritual Aspect of Accounting: A Case Study on Application of Shubh Laabh in Book Keeping

Abstract

India is a country where ritual and tradition play an important role in human life, they follow rituals and tradition according to their culture and religion; keeping in mind the importance of these rituals and tradition, this study has been conducted. The ultimate object of this study is to find out the significance of the concept Shubh and Laabh in the books of accounts. For this purpose, the researcher has used survey method followed by non-probability convenience sampling and found that there is a relevance of Shubh and Laabh in the books of accounts not only in traditional but also modern business. It is observed that religious beliefs and practices still occupy a prominent place in traditional as well as modern establishments. Traders believe that pleasing their Gods in traditional way is more important than any form of Corporate Social Responsibility CSR activities for bringing good luck, fortune and profitability of their concerns.